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OpenCloud announces $10 million investment to drive commercial delivery


Cambridge, UK, 10 July 2008: OpenCloud Limited, the leading supplier of real-time application servers for next-generation telecommunications services, today announced that it has recently closed a $10M second funding round. Existing institutional investors, Advent Venture Partners, No 8 Ventures and Motorola Ventures together with Silicon Valley Bank provided the $10M debt and equity investment. The investment will support the global sales, marketing, delivery and support of OpenCloud's Rhino product set.

OpenCloud Rhino enables the delivery of new person-to-person communications services at a faster pace and at a significantly lower price-point throughout the application lifetime - during service development, deployment and operation. OpenCloud Rhino, a carrier grade JAIN SLEE application server provides a java-based service creation and continuously available run-time environment for real-time telecommunications applications. OpenCloud is the leader in the development of JAIN SLEE, the JAVA standard for telecoms applications and the core standard used by OpenCloud for all its products.

Deploying an open standards platform, such as OpenCloud Rhino enables third-party companies and service providers to develop product applications and deploy them into any JAIN SLEE-enabled telecommunications network. This produces a competitive marketplace of companies with portable products and reduces the proprietary vendor lock-in that many telecommunications providers currently experience.

'We are delighted that our existing institutional investors have provided further funding since their initial investment in December 2006,' said Jeff Gordon, Chief Executive of OpenCloud. 'We feel it is a strong endorsement of the work we are doing to develop OpenCloud Rhino and the progress we have made bringing it to a global market and meeting the industry's need for a high performance platform that can support the extreme requirements. Likewise, we are proud that the prestigious Silicon Valley Bank recognises OpenCloud as a secure and promising company and in the current economic environment has provided working capital facilities'

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About OpenCloud
OpenCloud was formed in New Zealand in 2000 to create open standard software that would revolutionise the portability and interoperability of services in telecommunications, specifically in the evolution to IP and 3G IMS. The company was founded on the vision that the use of Java within the telecommunications network would stimulate innovation, interoperability and simplicity in telecommunication infrastructure equipment. In autumn this year, OpenCloud won global consulting firm Frost & Sullivan's Product Differentiation Innovation of the Year award in the European telecommunications market.

OpenCloud works with partners to deliver, integrate and support end-to-end solutions incorporating OpenCloud products to global network operators and service providers. OpenCloud has representatives in: Cambridge, UK; Wellington, New Zealand; Madrid; Tokyo; and San Francisco.
More information is available at www.opencloud.com


About Advent Venture Partners Advent Ventures is one of the premier mixed stage venture capital firms in Europe. Established in 1981, it invests in both the Technology and Life Sciences sectors. Advent Ventures has raised over $1 billion from institutional investors across Europe and the US since 1998. Advent Ventures' Technology investments include: Snell & Wilcox (leading digital media infrastructure technology supplier), Qype (local review site), Ubiquisys (systems for residential inbuilding cellular coverage), Orecon (wave energy), Dailymotion (video sharing site) and Cartesis which was sold to Business Objects for $300 million.
www.advent-ventures.com


About No 8 Ventures
No 8 Ventures is New Zealand's leading venture capital fund manager. They invest in early stage New Zealand technology companies and help to take them global. www.no8ventures.co.nz


About Motorola
Motorola is known around the world for innovation in communications. The company develops technologies, products and services that make mobile experiences possible. Our portfolio includes communications infrastructure, enterprise mobility solutions, digital set-tops, cable modems, mobile devices and Bluetooth accessories. Motorola is committed to delivering next generation communication solutions to people, businesses and governments. A Fortune 100 company with global presence and impact, Motorola had sales of US $36.6 billion in 2007.
For more information about our company, our people and our innovations, please visit http://www.motorola.com.


About SVB
SVB Financial Group UK Ltd. is a subsidiary of SVB Financial Group and an affiliate of Silicon Valley Bank. SVB Financial Group UK Ltd. is registered in England and Wales at 34 Dover Street, London, W1S 4NG, U.K. under No. 5572575 and is authorised and regulated by the Financial Services Authority.
www.svb.com

Contacts
Becky Kiely/Sarah Martinez
OCTOPUS
T: +44 (0) 8453 700 655
E: opencloud@octopuscomms.net


Publisher Contact Information:

OCTOPUS
+44 (0) 8453 700 655
opencloud@octopuscomms.net

Company profile of OpenCloud Limited
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